The global demand for PET was growing fast over the last decade. The effect of the economic slowdown has adversely affected the consumption of various commodities in many countries globally. Hence, demand for PET has also slowed down over the past two years. The global PET market in 2009 was 15.3 million tons. As the economies recover from the slowdown, the consumption of commodities will rise again and the global demand for PET will grow at CAGR of 4.9% up to 2020.
The demand for PET is highest in Asia. China is driving the majority of the demand for PET in the world. The demand in advanced countries like Japan has largely stabilized. With the large population in countries such as India and China, there is a huge consumption potential in these countries. The Asian demand by volume for PET in 2009 was nearly 4.7 million tons.

Europe is the second largest consumer of PET in the world. Russia, Italy and Germany are the major consuming countries in Europe. The demand in some Western European countries, such as Germany, France, Spain and the UK, is approaching the maturity stage. Growth in European PET demand is driven mostly by Russia. The demand for PET in Europe was around 3.7 million tons in 2009. The North American economy is the most developed and advanced, and the scope for growth is lowest as the demand is close to saturation. However, certain new and upcoming applications of PET are driving the North American market. The North American demand for PET in 2009 was close to 3.1 million tons in 2009. The PET demand in South and Central America is growing fairly strongly. This region consumed around 2 million tons of PET in the year 2009. The Middle East and African demand for PET is the second fastest growing after that of Asia. The Middle East and Africa region consumed around 1.2 million tons PET in 2009.

The GDP of countries like China and India in Asia are growing at rates higher than the global GDP growth rates. The key markets consuming PET are also growing in these countries. The strong economic growth along with the large population enables the large consumption of Carbonated Soft Drinks (CSDs) and bottled water in the region. The rapidly changing lifestyle of people in the region supports the consumption of packaged food. China has also grown rapidly in the capacity and production of petrochemicals. China is the largest producer of PET in the region and exports to many countries.

CSD is the largest market for PET globally. Because of its light weight, toughness and clarity, PET is the most preferred material for CSD bottles. Bottled water is the second biggest PET consuming market globally. CSD and bottled water together account for more than 65% of the global PET demand. However, the packaged food segment is also a very important and growing market for PET. The beer market is largely untapped but has strong potential for growth with regard to PET applications.

GBI Research’s new report, “The Polyethylene Terephthalate (PET) Market to 2020 - Carbonated Soft Drinks and Bottled Water Market in Asia Driving the Global Demand”, provides an in-depth analysis of the global PET industry. The research presents detailed analysis and forecasts of the economic and market trends affecting the PET markets in the major regions of the world. The report contains demand, production analysis and forecasts, drivers and restraints, the global recycling scenario, end use analysis and forecasts, and a market share analysis of the major producers in all the regions of the world. In addition, it includes demand and production forecasts for the major countries in all geographies. The report also contains historical and forecast price trends for all the regions. Overall, the report presents a comprehensive analysis of the global PET market covering all the major parameters.

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